Amundi Buys 759,236 Shares of Edison International $EIX

Key Points

• Amundi increased its Edison International stake by 27% in the second quarter, purchasing 759,236 shares and bringing its total holdings to 3.57 million shares worth approximately $265.8 million.
• Institutional ownership remains dominant at 88.95%, with major investors including California State Teachers Retirement System, BlackRock, AQR Capital Management and Norges Bank making significant purchases.
• Analyst sentiment is cautious: several firms cut price targets, and the stock has an average “Reduce” rating with a $64.55 target. Edison reported quarterly EPS of $1.54, above estimates, and offers a $3.51 annualized dividend yielding about 6.2%.

Amundi lifted its stake in Edison International (NYSE:EIX - Free Report) by 27.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,570,726 shares of the utilities provider's stock after buying an additional 759,236 shares during the quarter. Amundi owned about 0.93% of Edison International worth $265,843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. California State Teachers Retirement System lifted its holdings in Edison International by 7,943.7% in the 2nd quarter. California State Teachers Retirement System now owns 54,771,153 shares of the utilities provider's stock worth $4,077,712,000 after purchasing an additional 54,090,230 shares in the last quarter. BlackRock Inc. purchased a new stake in Edison International during the 2nd quarter valued at approximately $3,340,412,000. AQR Capital Management LLC grew its holdings in Edison International by 69.9% during the 4th quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider's stock valued at $1,097,475,000 after buying an additional 7,521,168 shares in the last quarter. Norges Bank bought a new stake in shares of Edison International during the fourth quarter valued at approximately $339,311,000. Finally, Legal & General Group Plc bought a new stake in shares of Edison International during the second quarter valued at approximately $329,766,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on EIX. UBS Group dropped their target price on shares of Edison International from $75.00 to $63.00 and set a "neutral" rating for the company in a research report on Tuesday, September 1st. JPMorgan Chase & Co. reduced their price target on shares of Edison International from $82.00 to $61.00 and set a "neutral" rating on the stock in a report on Wednesday, September 2nd. Bank of America cut shares of Edison International from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $81.00 to $51.00 in a research note on Tuesday, September 1st. Weiss Ratings raised shares of Edison International from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 27th. Finally, Argus restated a "hold" rating on shares of Edison International in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $64.55.

Edison International Trading Down 0.2%

Shares of EIX opened at $56.64 on Tuesday. The company's fifty day moving average is $72.16 and its 200 day moving average is $71.86. Edison International has a fifty-two week low of $52.00 and a fifty-two week high of $81.62. The stock has a market capitalization of $21.80 billion, a PE ratio of 5.84, a P/E/G ratio of 2.29 and a beta of 0.62. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.61 and a current ratio of 0.66.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.36. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The company had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Edison International's revenue was down 4.1% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Sell-side analysts expect that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th were given a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 6.2%. The ex-dividend date was Tuesday, July 7th. Edison International's dividend payout ratio is currently 36.19%.

About Edison International

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE's integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company's operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company's activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.

Want to see what other hedge funds are holding EIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edison International (NYSE:EIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.